Experts predict a major consolidation in the real-money gaming (RMG) industry in the near future, wherein 80% of the smaller companies will either shut down or get acquired by bigger rivals such as MPL, Dream11 and Games24x7.
He won Rs 1.5 crore on Dream11, a popular online fantasy gaming platform. Pimpri Chinchwad Police Commissionerate Sub Inspector Somnath Zende had started receiving the money in his account. However, the joy was short-lived.
Hospitality firm Oyo Hotels and Rooms, operated by Oravel Stays Pvt Ltd, is in discussions with a US-based alternative asset manager to refinance a $660-million loan, a media report said.
Oyo Hotels has approached ..
The Indian gaming industry, valued at $2.6 billion, is eagerly awaiting the Gameskraft hearing on October 10. Despite predictions that the industry will reach $8-10 billion by 2027, the recently revamped GST framework has caused setbacks. Valuations have dropped, with some share prices falling in the past three months. The core issue is the 28% GST on the full value of deposits made by users, regardless of whether the game is based on chance or skill . This, coupled with withholding tax amendments, will significantly impact the economics for platform users.